Health Net cancels conference call, webcast Health Net (HNT) announced that, as a result of the July 2, announcement that Health Net and Centene (CNC) approved a definitive agreement under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at approximately $6.8B, including the assumption of approximately $500M of debt, Health Net is cancelling its previously scheduled Q2 earnings conference call and webcast. The call was previously scheduled for August 4, at 12:00 noon Eastern time. Health Net intends to issue a press release reporting the company’s financial results for Q2, as planned, before the market opens on Tuesday, August 4. The company expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30 with the SEC on or about August 5.

Centene downgraded to Sell from Neutral at GoldmanGoldman downgraded Centene (CNC) to Sell with a $69 price target. The firm's analyst believes Centene's acquisition of Health Net (HNT) is a signal of slower organic growth and makes the company a less likely M&A target. Goldman sees increasing execution risk given complex deal integration and lowered its price target to $69 from $73 on shares.